The reason is that the game engines get more and more demanding. Resolution is only a small part of the story. Try comparing witcher 1 and witcher 3 at the same resolution, and you will see that 3rd installment looks way, way better, although resolution is the same.
The reasons for that are texture details, lighning effects, shadows, antialiasing, post-processing, shaders and many more which get more and more demanding to improve realism.
All of them require more and more processing power, and thus old GPUs simply get outdated, just like every other component in a PC.